In a significant milestone for the burgeoning fintech sector in Bangladesh, Druto Fintech Limited announced today that it has raised $1,25,000 in a pre-seed funding round.
The financial injection comes after a remarkable four and a half years of bootstrapping for the company, during which Drutoloan maintained a positive cash flow.
The investment, sourced from both local and foreign investors, including notable names like Ridwan Hafiz and Razy Shah along with two other investors from Singapore, positions Druto Fintech Limited for an ambitious expansion to empower and streamline financial access for underserved MSMEs across the country.
Future-Forward Financing. Druto Fintech Limited (DRUTOLOAN) is a financial platform designed to bridge the gap estimated to be $2.8 Billion between unserved and underserved Micro, Small, and Medium Enterprises (MSMEs) and traditional financial institutions.
The platform offers a comprehensive suite of services aimed at making the lending process more accessible, efficient, and transparent for both MSMEs and financial institutions.
Druto Fintech's Impact. The company says it has facilitated over 3000 loans with a total loan disbursement of more than BDT 20 crore and a savings deposit of more than BDT 10 crore, attaining an unrivaled 0% default record.
This remarkable track record attests not only to the platform's strong financial management but also to its commitment to supporting businesses.
Added to that, strategic alliances with major players such as Lanka Bangla Finance Limited, Chaya, and Inkam strengthen Druto Fintech's position as a significant player in transforming Bangladesh's financial environment.
A One-Stop Solution for MSMEs and Financial Institutions. By leveraging alternative data analysis technology, the platform enables MSME entrepreneurs to present their creditworthiness in ways that traditional financial institutes can assess. Drutoloan ensures lending services for MSME entrepreneurs without the need for multiple visits to financial institutions.
From loan application to repayment, Drutoloan facilitates the entire process within the confines of the MSMEs' business infrastructure, saving valuable time and resources.
Drutoloan serves as a one-stop solution for both MSMEs and financial institutions. For MSMEs, it streamlines the loan application process, providing them with a unique credit score and a comprehensive credit report. On the other hand, for financial institutions, Drutoloan acquires potential MSME borrowers, ensures they are loan-ready, and assists in the loan processing, disbursement, and collection phases.
Druto Fintech's Ambitious. With the newly acquired funding, Druto Fintech Limited has set its sights on expanding its footprint across the country. The company aims to establish 1000 SME centers in the next few years strategically located in areas where MSME entrepreneurs are most underserved. This expansion will not only democratize access to business loans but also contribute to the economic development of regions that traditionally lacked robust financial inclusion. With these funds, the dawn of a transformative revolution in financial accessibility is on the horizon.
The successful pre-seed funding round marks an important moment in the journey of Druto Fintech Limited. The infusion of capital will undoubtedly catalyze the company's mission to empower MSMEs and transform the landscape of business financing in Bangladesh. As the fintech sector continues to gain momentum in the country, Druto Fintech Limited stands poised to play a leading role in shaping a more inclusive and tech-driven financial ecosystem. The investors' confidence in the vision of Druto Fintech Limited reflects the growing recognition of the transformative potential of fintech solutions in addressing the unique challenges faced by MSMEs in emerging economies like Bangladesh.
